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My own developed benkyalate system

  • #1,241
  • Edited 1:27pm Nov 24, 2008 1:15pm | Edited 1:27pm
Ok, like I said before, I would demo the Obama and the Godfather...

My first chart is a brand new ODL demo account that I started with $3000. This is the one that I am running the Obama system on. I used a .5 lot size (what I would comfortably risk live per strict money management). I was able to grow the account another $900 bucks.

As I highlighted, with the 2nd and 3rd ellipses, those gbp/usd trades should have never been taken given what the other indicators were showing me. The reason I did take the trades were the alerts sounding off saying strong signals... yet again, there was candle repainting later.... I am not a believer of martingale-type trading on losers, so chose to simply cut my losses and re-enter at another point. Money management will allow you to trade another day.

2nd chart is from my Alpari where I'm running the Godfather. Because I have been using that demo account for a while, I focused in on the money made from the trades taken last night -- everything was Godfather-related. I usually run 1 lot trades on that account, so I rolled with that. Again, money made, EXCEPT for those USD/CAD trades...

The USD/CAD trades ... (see the 3rd chart for the blue box which is where I entered)... was strictly my fault and shouldn't have been entered based on the other indicators. I rarely trade this pair... but I just wanted to see what would happen... ... Then I didn't pay attention and re-entered again as I got another signal from the repainting. If I stuck with the basic rules, neither of these would have happened.... guess that's why they are called rules... lol.

There's a lot of repainting that goes on with the extra indicators (seperate experimentation), but I think the combination of the other indicators, can make a trader some extra money. This is not the holy grail and I don't think this would work well being ran by an EA. A trader still has to know the basics (like fundamentals and not trading against a trend/hold a countertrend trade for a long time) and not-so-basics (like Fib retracement/Pivot Points) of trading.... I ignored a LOT of signals because of general experience with certain currencies (except that usd/cad), but overall, I made more than I lost.

Thanks, Oan, this is an interesting and cool system... hoping to get better with this as time goes on....

Fox

PS -- Forgot to mention... These were all mostly taken on 15 min TFs. One or 2 were 30 min TF, like the usd/jpy
Attached Image(s) (click to enlarge)
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  • #1,242
  • Nov 24, 2008 2:07pm Nov 24, 2008 2:07pm
Quoting oan4fx
you decide if the price has touched the upper line and going down so it is a down trend and you sell only in smaller time frames.
if the price touched lower line which i yellow in the last template and it is going up the trend i up so you just buy in lower time frame.
my regards.
oan.
Dear Oan

Today I was doing trade with Euro/Jyp and it crossed the sold blue line and i took the trade and it crossed more up then i noticed the blue line was pushed up more and more may be 200pip or more ...then now moving down slow ..that time the candle average with -.81 and RSI was above 70 and stoch was close to touch .......the system is perfect guide ...i used the system ....the only thing is the retracment other direction ....it could be better to take 50 pips rather than to wait till it reach the middle line or to get 200pips ....

Any comments or advices from you Oan or others
  • #1,243
  • Nov 24, 2008 2:14pm Nov 24, 2008 2:14pm
... I don't have years of trading under my belt, but I think that is the reason I had a little trouble with the gbp/usd last night as well.

Still, not sure if this is a complete trend change or just a retracement before further selling. Either way, the USD is showing weakness against everyone except the Yen right now and the EUR is looking pretty strong with the GBP following it.

And thanks for the response to my previous post...

Fox

Quoting thelws
I think I should post this as well. This is what happens when the trend is changing.

As you know, cog repaints. when i took the trade, the trend was going down. I placed a short. Again, the trade went against me.

The difference here compared to my first example is the cog began to trend up. So, common sense tells you that it is not wise to hold a short position in an uptrending market. I decided to cut loss when i had the chance and as a result only lost 30$ (or 3 pips)

as you can see in the picture below, the trend continues to go up. if i...
  • #1,244
  • Edited 4:17pm Nov 24, 2008 3:55pm | Edited 4:17pm
Quoting Moe2008
Dear Oan

[size=3]Today I was doing trade with Euro/Jyp and it crossed the sold blue line and i took the trade and it crossed more up then i noticed the blue line was pushed up more and more may be 200pip or more ...then now moving down slow ..that time the candle average with -.81 and RSI was above 70 and stoch was close to touch .......the system is perfect guide ...i used the system ....the only thing is the retracment other direction ....it could be better to take 50 pips rather than to wait till it reach...
The exact same shit happened to me. it was all lined up to go up and the pig Rose more, i have my stop loss at 200 pips just like everyone suggest lets hope i dont get stoped out like i did on the usd chf damit.
And your mouth dropped
  • #1,245
  • Nov 24, 2008 4:57pm Nov 24, 2008 4:57pm
Read the whole thread and caught up now, but there are just so many templates. Basicly i want to trade this system on the 4 htf and let you all know how i get on. I have experience in trading and hope i can benefit and help us all make money on this thread. Is anyone trading 4 hour time frame and which template seems to be the best for this time frame?
Any help would be appreciated.
Many thanks Juls.
  • #1,246
  • Nov 24, 2008 5:39pm Nov 24, 2008 5:39pm
Quoting Juls
Read the whole thread and caught up now, but there are just so many templates. Basicly i want to trade this system on the 4 htf and let you all know how i get on. I have experience in trading and hope i can benefit and help us all make money on this thread. Is anyone trading 4 hour time frame and which template seems to be the best for this time frame?
Any help would be appreciated.
Many thanks Juls.
Godfather appreantly is the one mostly used for 4hrs and such. i personally use the SIMPLE one that was posted or the leon for the hourlys there isnt much difference,, but i am thinking of changing to gofather for the hourlies as well, try what i suggested then chose one you feel good with because everyone has a different feel
And your mouth dropped
  • #1,247
  • Nov 24, 2008 6:28pm Nov 24, 2008 6:28pm
Quoting makey2u
The exact same shit happened to me. it was all lined up to go up and the pig Rose more, i have my stop loss at 200 pips just like everyone suggest lets hope i dont get stoped out like i did on the usd chf damit.
Hi Makey

What time frime you had

I was using Oan template , the average candle was down -0.81 , which mean to sell and touching the sold line but with good father system the candle were up and it was touching the the doted line not the sold , i was working with 1 hr TF .....

It seem better to have small lot and wait and to close it if it moved max 100 pip and to start again from top just to save the equity

Dear Oan

The setting for the candle average is different between goodfather and Oan system and same for the COG ...this why i asked for the setting , yes i beleive the settings are the secret to have more acurate results

Regards
  • #1,248
  • Edited 8:07pm Nov 24, 2008 7:55pm | Edited 8:07pm
I started using Oan's systems here on the 29th of October on a $3,000 demo account, and have used the Godfather and Obama since they came out, with a few additional indicators for confirmation. I initially tried scalping on 1 minute and 15 minute but failed miserably.

I then stuck to the 4 hour charts, using first Godfather, and then Obama when that came out.

I have managed to take my $3,000 demo account up to $17,289 today, within less than one month. No system has ever given me this type of great return in less than one month. My biggest lot I traded was 6 lots, once, but I normally traded either 1 or 2 lots.

Yes, this system repaints. But you need to understand that this system is not magic. It is a system based on PROBABILITIES! If you take care in taking profits regularly, and keeping to a good stop loss, you can be successful. You WILL suffer drawdowns, like I did, but you need to just get back up and continue.

I tried the EA, and although it made me 40 pips profit on the 1 minute timeframe (I changed the tp to 40 pips), I thought that it was going to hit my stop loss and the martingale principle gave me heartburn. I personally don't like martingale/average down principle.

My stats:

Gross Profit: 32608.74 Gross Loss: 18 318.91
Total Net Profit: 14 289.83
Profit Factor: 1.78
Expected Payoff: 99.23
Absolute Drawdown:2390.00
Maximal Drawdown: 5 218.68 (42.60%)
Relative Drawdown: 79.67%(2390.00)
Total Trades: 144 Short Positions (won %): 78 (51.28%)Long Positions (won %):66 (63.64%)
Profit Trades (% of total): 82(56.94%)
Loss trades (%of total):62 (43.06%)
Largest profit trade: 4 269.31
loss trade: -2 330.00
Average profit trade: 397.67 loss trade:-295.47
Maximum consecutive wins ($): 17 (8211.35)
consecutive losses ($): 6 (-3461.35)
Maximal consecutive profit (count): 8 211.35 (17)
consecutive loss (count): -3 461.35 (6)
Average consecutive wins: 3
consecutive losses: 2

I currently have an average consecutive win/loss ratio of 3/2. However this includes my scalping which was not successful.

It's interesting to see that my gross profit was actually $32,608 off a $3,000 demo account. That's quite something. If i had controlled my gross losses of $18,000 better, which majority loss was on scalping and one very bad 8 hour trade, I would have been better off. I'm happy regardless.

Final comment, this system works well, especially with added indicators such as fib lines and other trend indicators. Also, better to trade with the longer term 4 hour and day trend.

All this done over 20 trading days.

Anyone else care to share their official statistics? It would be great to compare and learn.
  • #1,249
  • Nov 24, 2008 8:27pm Nov 24, 2008 8:27pm
Quoting dimitrius
I started using Oan's systems here on the 29th of October on a $3,000 demo account, and have used the Godfather and Obama since they came out, with a few additional indicators for confirmation. I initially tried scalping on 1 minute and 15 minute but failed miserably.
....

....All this done over 20 trading days.

Anyone else care to share their official statistics? It would be great to compare and learn.
Lol I only used this system for 2 weeks. I started with a 50k demo account. I'm currently about 70k. I've never taken any trades bigger than 2 lots. The figure is quite low because I have been experimenting with lots of things (martingales, scalping, using different indicators etc). A lot of money was made and lost. If I stuck to a proper trading plan I should have a higher account balance.

Having said that, to make 20k in 2 weeks is still a huge thing. All while trading with no rules.
  • #1,250
  • Nov 24, 2008 8:52pm Nov 24, 2008 8:52pm
I was using the 1 hr and 4 hr time frame,
But one thing i noticed now is, when the candle average is at .81 for me to sell for example on the solid line or buy, i wait until the candle average moves back gown at least on degree for me to confirm the Move up or move down has finally exhausted its self..

I have a question does anyone know where i can get a daily Intrest Rate on the us dollar on a chart? or is there such a thing? or is that just the treasurey chart on the stocks?

Quoting Moe2008
Hi Makey

What time frime you had

I was using Oan template , the average candle was down -0.81 , which mean to sell and touching the sold line but with good father system the candle were up and it was touching the the doted line not the sold , i was working with 1 hr TF .....

It seem better to have small lot and wait and to close it if it moved max 100 pip and to start again from top just to save the equity

Dear Oan

[size=3]The setting for the candle average is...
And your mouth dropped
  • #1,251
  • Nov 24, 2008 11:49pm Nov 24, 2008 11:49pm
Hi Guys,

Is this correct the way I trade the system?

I enter a buy when candle close at or around the dotted green line and set my TP at the blue line?

I noticed that the lines move as candle progresses. Do i enter into another trade again if the candle moves nearer to the solid green line?

Please lend me your guidance.

Thanks.
Attached Image (click to enlarge)
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  • #1,252
  • Nov 25, 2008 2:12am Nov 25, 2008 2:12am
Mate, i really dont know what do you expect - c'mon, you are scalping on 1min and you dont have patience to wait for solid line touch???

Quoting thelws
I think I should post this as well. This is what happens when the trend is changing.

As you know, cog repaints. when i took the trade, the trend was going down. I placed a short. Again, the trade went against me.

The difference here compared to my first example is the cog began to trend up. So, common sense tells you that it is not wise to hold a short position in an uptrending market. I decided to cut loss when i had the chance and as a result only lost 30$ (or 3 pips)

as you can see in the picture below, the trend continues to go up. if i...
  • #1,253
  • Nov 25, 2008 2:16am Nov 25, 2008 2:16am
Quoting Mcdegoh
Hi Guys,

Is this correct the way I trade the system?

Thanks.
Hi Mcdegoh,

Some people are entering just as you showed in your chart but it's risky. However the best entry is to wait for the price to touch the solid lines, and for the TP either you set it up for your self in pips i.e.(30, 50, etc) or when the price touch the center line.

Cheers,
Sniffing Snake's Tracks...
  • #1,254
  • Nov 25, 2008 2:34am Nov 25, 2008 2:34am
Hi Fx.Sniffer,

Thanks for your info. Will stick to the rules. Just noticed that price mostly bounce from the dotted lines and only very few trades off the solid ones but i guess it better to be safe than sorry.

So its candle close at or near solid lines with candle average at 0.81 to enter?

Thanks again mate.
  • #1,255
  • Nov 25, 2008 3:04am Nov 25, 2008 3:04am
INFINITI SYSTEM
Attached Image (click to enlarge)
Click to Enlarge Name: me.png Size: 32 KB
  • #1,256
  • Nov 25, 2008 3:04am Nov 25, 2008 3:04am
Quoting dimitrius

Final comment, this system works well, especially with added indicators such as fib lines and other trend indicators. Also, better to trade with the longer term 4 hour and day trend.

All this done over 20 trading days.

Anyone else care to share their official statistics? It would be great to compare and learn.
Hi dimi,

The max back draw I ever faced on the 15min for the last 2 weeks were 25pips. My method in testing is to keep testing the sys until it provides a false signal in a changing market condition. So, yesterday it gave me a false signals on the 15min (even false signal on 15 min rewards you with 10pips ) but when I checked the 4H TF it was still under the process to generate the signals but it didn't happen till...(I don't when, cuz I slept after the openning of the asian market)...

This sys is awesome on a ranging market but not on a trendy one. Anyway Oan used to warn us not to enter in the smaller TF against the 4H TF.

Here is how:
- If the sys is in process of generating a SELL signal on the 4H TF, then don't enter on any SELL signals from the smaller time frames, because it might be still trending up in the 4H TF.

- For you who can't visually spot a trend, I'm using Stochastic on the 4H TF with the following parameters:
%k:5
%D:5
Slowing:1
Levels: 30 & 70
In the above example when the sys is under preocess of generating a SELL signal and the price is aggresively trending north, the stoch shall be above 70 respecting the level and will never cross it down until the trend hits a Resistance then the Stoch shall cross 70.

- Vise versa if it's trending south.

The above are just my thoughts. So dimitrius, I'm interested to know how did you manage your trades yesterday and if you made any profits from using the system just for yesterday.

Cheers,
Sniffing Snake's Tracks...
  • #1,257
  • Edited 3:24am Nov 25, 2008 3:13am | Edited 3:24am
Quoting Mcdegoh
So its candle close at or near solid lines with candle average at 0.81 to enter?
In your case when the price touch the solid green line (candle touch line, not necessarily to close at), and CA @ -0.81 down considering that the CA sys has changed in the newer versions and should be @ 0.81 up.

It seems that Oan is coming up with a new version so watch out
Sniffing Snake's Tracks...
  • #1,258
  • Nov 25, 2008 3:40am Nov 25, 2008 3:40am
Quoting oan4fx
INFINITI SYSTEM
lol wtf? how does that one work... scared the shit outa me lol
And your mouth dropped
  • #1,259
  • Nov 25, 2008 4:11am Nov 25, 2008 4:11am
Quoting oan4fx
INFINITI SYSTEM
is this the system post no.1179??can we add fibo h-4 ? thankx
  • #1,260
  • Nov 25, 2008 4:54am Nov 25, 2008 4:54am
Quoting dimitrius
I started using Oan's systems here on the 29th of October on a $3,000 demo account, and have used the Godfather and Obama since they came out, with a few additional indicators for confirmation. I initially tried scalping on 1 minute and 15 minute but failed miserably.

I then stuck to the 4 hour charts, using first Godfather, and then Obama when that came out.

I have managed to take my $3,000 demo account up to $17,289 today, within less than one month. No system has ever given me this type...

Hi

Good job

Would you please explain what repaint means , I see this word alot

Beside what EA you used , they talked about EA once in this thread and i asked about it but didnt get any reply , if you have such EA , is it possible to share , I beleive more in manual tarde but some times it could be nice to use EA's
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